Tax sensitive business operations should be relocated to other areas if necessary, according to the head of Erste Bank Austria.

According to Thomas Uher, head of Erste Bank Austria, the consideration of some major coporations to migrate to other countries is not a bad joke but the sad reality. According to him, nobody was joking and he did not consider Wolfgang Eder, CEO of steel manufacturer voestalpine to be joking.

Other than Eder, who has criticized the Austrian location not only because of its high…